How Do You Calculate Profit from Selling T-Shirts?

  • MHB
  • Thread starter mathdad
  • Start date
In summary, you invested $180 in a company that resells T-shirts for a profit. Each shirt is sold for $10.25 and if you sell 26 shirts, your profit will be $86.50. Your computation is correct for this scenario.
  • #1
mathdad
1,283
1
You invest in a company that purchases T-shirts and resells them for a profit. You invest 180 dollars and sell each shirt for 10.25. If you sell 26 shirts, what is your profit?

My Work:

Let P = profit

P = (price of each shirt)(total amount of shirts sold) - (amount invested)

P = (10.25)(26) - 180

P = 266.50 - 180

P = $86.50

Is this correct?
 
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  • #2
Yes, profit is revenue less costs, and you seem to have computed this correctly. (Yes)
 
  • #3
MarkFL said:
Yes, profit is revenue less costs, and you seem to have computed this correctly. (Yes)

Thank you. How about the other questions posted?
 
  • #4
What other questions?
 
  • #5
HallsofIvy said:
What other questions?

I posted about 3 more questions. I want to know if my work is correct.
 

Related to How Do You Calculate Profit from Selling T-Shirts?

1. What is the purpose of "Find the Profit"?

The purpose of "Find the Profit" is to calculate the amount of profit earned by a company or business. It is a mathematical tool used to assess the financial success of a company.

2. How is profit calculated?

Profit is calculated by subtracting the total expenses from the total revenue. The formula for profit is: Profit = Total Revenue - Total Expenses.

3. Can "Find the Profit" be used for personal finances?

Yes, "Find the Profit" can be used for personal finances as well. It can help individuals track their income and expenses and assess their financial standing.

4. What other factors should be considered when analyzing profit?

In addition to revenue and expenses, other factors such as taxes, investments, and inflation should also be considered when analyzing profit. These factors can greatly impact the overall financial success of a company.

5. How can "Find the Profit" be used to improve a company's financial performance?

"Find the Profit" can be used to identify areas where a company is spending too much or not earning enough. By analyzing the profit, businesses can make informed decisions to cut costs, increase revenue, and ultimately improve their financial performance.

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